Foot Locker (NYSE:FL) Sets New 12-Month Low – Time to Sell?

Shares of Foot Locker, Inc. (NYSE:FL) hit a new 52-week low during mid-day trading on Monday . The company traded as low as $17.88 and last traded at $17.81, with a volume of 292346 shares traded. The stock had previously closed at $18.20.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on FL shares. UBS Group dropped their price objective on Foot Locker from $26.00 to $22.00 and set a “neutral” rating for the company in a research note on Thursday, December 5th. Needham & Company LLC dropped their price target on Foot Locker from $25.00 to $24.00 and set a “buy” rating for the company in a research report on Friday, January 24th. Robert W. Baird cut their price objective on Foot Locker from $27.00 to $24.00 and set a “neutral” rating for the company in a report on Thursday, December 5th. The Goldman Sachs Group lowered their target price on shares of Foot Locker from $25.00 to $22.00 and set a “sell” rating on the stock in a research note on Thursday, December 5th. Finally, Piper Sandler cut their price target on shares of Foot Locker from $30.00 to $28.00 and set a “neutral” rating for the company in a research note on Monday, December 2nd. Four investment analysts have rated the stock with a sell rating, nine have issued a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $24.94.

Foot Locker Price Performance

The firm’s 50 day simple moving average is $20.44 and its two-hundred day simple moving average is $23.88. The firm has a market capitalization of $1.67 billion, a P/E ratio of -3.91, a P/E/G ratio of 0.53 and a beta of 1.48. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.67 and a quick ratio of 0.45.

Foot Locker (NYSE:FL) last issued its earnings results on Wednesday, December 4th. The athletic footwear retailer reported $0.33 earnings per share for the quarter, missing the consensus estimate of $0.40 by ($0.07). The company had revenue of $1.96 billion for the quarter, compared to analysts’ expectations of $2.01 billion. Foot Locker had a negative net margin of 5.24% and a positive return on equity of 2.91%. The company’s revenue was down 1.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.30 earnings per share. As a group, analysts predict that Foot Locker, Inc. will post 1.23 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. Summit Investment Advisors Inc. grew its holdings in Foot Locker by 6.9% in the 4th quarter. Summit Investment Advisors Inc. now owns 8,728 shares of the athletic footwear retailer’s stock worth $190,000 after acquiring an additional 562 shares during the last quarter. Harbour Investments Inc. increased its holdings in Foot Locker by 81.6% during the 4th quarter. Harbour Investments Inc. now owns 1,442 shares of the athletic footwear retailer’s stock valued at $31,000 after purchasing an additional 648 shares during the period. Chartwell Investment Partners LLC raised its position in Foot Locker by 2.4% during the 3rd quarter. Chartwell Investment Partners LLC now owns 33,685 shares of the athletic footwear retailer’s stock valued at $870,000 after purchasing an additional 782 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. lifted its holdings in Foot Locker by 32.5% in the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,267 shares of the athletic footwear retailer’s stock worth $84,000 after buying an additional 801 shares during the period. Finally, Foundry Partners LLC grew its position in shares of Foot Locker by 8.8% in the 4th quarter. Foundry Partners LLC now owns 12,784 shares of the athletic footwear retailer’s stock worth $278,000 after buying an additional 1,031 shares during the last quarter.

Foot Locker Company Profile

Foot Locker, Inc, through its subsidiaries, operates as a footwear and apparel retailer in North America, Europe, Australia, New Zealand, Asia, and the Middle East. Its brand portfolio includes Foot Locker, a brand comprising sneakers and apparel; Kids Foot Locker, which offers athletic footwear, apparel, and accessories for children; and Champs Sports that operates as a mall-based specialty athletic footwear and apparel retailer.